Dutch Bros Inc. (NYSE:BROS) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its holdings in shares of Dutch Bros Inc. (NYSE:BROS) by 239.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 837,216 shares of the company’s stock after buying an additional 590,719 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Dutch Bros were worth $34,661,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BROS. International Assets Investment Management LLC acquired a new stake in Dutch Bros during the 4th quarter worth approximately $763,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Dutch Bros by 22.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,481 shares of the company’s stock worth $364,000 after purchasing an additional 2,100 shares during the last quarter. Handelsbanken Fonder AB acquired a new stake in shares of Dutch Bros during the fourth quarter worth $257,000. Orca Investment Management LLC grew its position in Dutch Bros by 10.2% in the 4th quarter. Orca Investment Management LLC now owns 18,569 shares of the company’s stock valued at $588,000 after buying an additional 1,725 shares during the last quarter. Finally, Kestra Private Wealth Services LLC increased its stake in Dutch Bros by 19.6% in the 4th quarter. Kestra Private Wealth Services LLC now owns 23,510 shares of the company’s stock valued at $745,000 after buying an additional 3,856 shares during the period. Hedge funds and other institutional investors own 85.54% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Travis Boersma sold 426,891 shares of Dutch Bros stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $31.59, for a total transaction of $13,485,486.69. Following the completion of the transaction, the chairman now directly owns 467,228 shares in the company, valued at approximately $14,759,732.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Dutch Bros news, major shareholder Dm Individual Aggregator, Llc sold 167,315 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $31.60, for a total value of $5,287,154.00. Following the transaction, the insider now directly owns 467,228 shares in the company, valued at approximately $14,764,404.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Travis Boersma sold 426,891 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $31.59, for a total transaction of $13,485,486.69. Following the sale, the chairman now directly owns 467,228 shares in the company, valued at $14,759,732.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 876,656 shares of company stock worth $28,989,329. Insiders own 46.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on BROS shares. Bank of America raised their target price on shares of Dutch Bros from $44.00 to $49.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. TD Cowen reduced their price objective on shares of Dutch Bros from $50.00 to $47.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Stifel Nicolaus lowered their price objective on Dutch Bros from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. UBS Group raised Dutch Bros from a “neutral” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Thursday, August 15th. Finally, Wedbush restated an “outperform” rating and issued a $45.00 price target on shares of Dutch Bros in a research note on Thursday, August 8th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.73.

Dutch Bros Price Performance

NYSE BROS traded up $0.10 during mid-day trading on Tuesday, hitting $31.64. The stock had a trading volume of 173,050 shares, compared to its average volume of 2,741,637. The company has a 50 day simple moving average of $37.44 and a 200 day simple moving average of $34.17. The company has a quick ratio of 1.98, a current ratio of 2.29 and a debt-to-equity ratio of 0.86. The company has a market cap of $5.61 billion, a price-to-earnings ratio of 175.33, a P/E/G ratio of 4.71 and a beta of 2.53. Dutch Bros Inc. has a 52-week low of $22.67 and a 52-week high of $43.49.

Dutch Bros (NYSE:BROS) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. Dutch Bros had a return on equity of 1.99% and a net margin of 1.21%. The business had revenue of $324.92 million during the quarter, compared to analysts’ expectations of $317.39 million. During the same quarter last year, the business posted $0.07 earnings per share. The business’s revenue for the quarter was up 30.0% on a year-over-year basis. Equities analysts forecast that Dutch Bros Inc. will post 0.3 EPS for the current fiscal year.

Dutch Bros Profile

Dutch Bros Inc, together with its subsidiaries, operates and franchises drive-thru shops in the United States. The company operates through Company-Operated Shops and Franchising and Other segments. It serves through company-operated shops and online channels under Dutch Bros; Dutch Bros Coffee; Dutch Bros Rebel; Dutch Bros; and Blue Rebel brands.